24th May 2016 17:05
LONDON (Alliance News) - Octopus Eclipse VCT PLC Tuesday said it saw a modest decrease in its total value in its first half.
For the half year to end-March the company reported a net asset value per share of 32.5 pence, down from 35.2 pence the year before. Total value declined slightly to 112.2p from 112.4p.
It declared a dividend of 1.0 pence, maintained from the previous period.
During the half year the company said it had continued to source a broad range of new investments to create a balanced portfolio. It expects to continue this strategy for the forseeable future, allowing proceeds to be recycled back into new portfolio investments, and when prudent for enhanced dividends to be paid to shareholders.
It made eight investments totalling GBP1.8 million in the period, seven of which were new. It now has investments in 23 unquoted and 10 AIM-traded companies.
"Following a period of uncertainty around the interpretation of recent VCT legislation, we are pleased that there is now clarity on the Government's approach and are confident in Eclipse's eligibility to make new investments under the new VCT rules. We have continued to exit legacy investments and believe that the portfolio is judiciously balanced and diversified," the trust said in a statement.
Shares in Octopus Eclipse last closed at 30.75 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
OEC1.L